Double-checking your homeowners insurance probably isn’t on many spring to-do lists.
But it should be.

That’s the advice from David Miller, Vice President and risk management expert at Plexus Private Client Solutions, a suburban Chicagoland personal insurance agency protecting the life’s work of successful families and individuals with tailored home, auto, and umbrella coverage solutions.

Your home may be underinsured. Via Consumer Reports, which cited data from analytics firm CoreLogic, three out of every five homes are 20% underinsured on average. In the case of a total rebuild, this could leave homeowners left to pick up the pieces — while also picking up the check.

Take a look at your deductible, because it may have changed. Miller, who has more than two decades of insurance experience, cautions homeowners to be aware of wind and hail deductibles. These have been on the rise, with an uptick in roof-related claims particularly an issue. An insurance company can only change your coverage at renewal; make sure to read the fine print. Your agent can help.

Do not assume you have sump pump failure coverage. Most insurance companies will exclude this damage as a cause of loss. However, you can usually buy back a limited amount of coverage. Writes Miller: “Even if you have an unfinished basement, the costs associated with a sump pump/sewer claim might surprise you.”

For more information on the home and personal insurance expertise offered by Plexus Private Client Solutions, contact David Miller at 847-307-6100, or visit plexusgroupe.com. The firm's located at 21805 W. Field Parkway, Suite 300, in Deer Park, Illinois.

Cyber Threats: Fixed and Mobile

The Internet of Things brings great opportunity for businesses. But hackers need just cheap, easily accessible technology to wreak havoc on your firm. We take an in-depth look at this dangerous landscape.

Selflessness is a virtue -- and a necessity for a business to move foward.
And if a business isn't growing, forget about it.

These were among the lessons from Dr. Rick Rigsby during Thursday's keynote address at the 2018 Plexus Team Building Event.

The best-selling author of "Lessons From a Third Grade Dropout," Rigsby imparted wisdom learned from his late father, whose formal schooling ended not long after kindergarden but whose committment to education never stopped. Among his father's lessons: Be a servant to others.

"Ego is the anesthesia that deadens the pain of stupidity," said Rigsby, a former professor and TV sports anchor turned motivational speaker.

To begin his talk, Rigsby spoke of the risks people and businesses face when they do not keep evolving.

"I want to talk about forward momentum, because without forward momentum, entropy sets in," he said.

Rigsby also drew a link between entropy and the pursuit of adulation.

"We love hearing the accolades from others. Guess that that invites?" Rigsby said.

Rigsby also called on Plexus staff and other assembled guests at the American Society of Anesthesiologists to think and act strategically.

"Great people are thinking in muitiple dimentions," he said. "They’re not just showing up for a paycheck and some benefits."

Rigsby also took aim at the idea that businesspeople are just too busy to change their habits.

"The issue is not time. The issue is our management, or lack thereof, of time," Rigsby said.

Then, in his closing remarks, Rigsby told Plexus associates to look inside themselves. Company management, he said, shouldn't be expected to "raise your expectations for you."

Said Rigsby: "You raise them yourself."

For more information on Dr. Rick Rigsby, including booking information, please visit his website, RickRigsby.com. And be sure to check out the 2017 speech he delivered to California State University Maritime University, which has been viewed more than 130 million times.

It's time again for one of the biggest events on The Plexus Groupe's calendar, a foundational piece for our corporate culture.
On Wednesday and Thursday, all Plexus associates will gather in suburban Chicago for our 2018 Team Building Event. It's a chance for our 100-plus team members to connect, learn, and grow, and it's an opportunity for our firm to look ahead to what's in store for the coming year. We also get a wonderful chance to connect with our insurance carrier partners, who will be attending a number of the events over the next two days.

We’ll be posting here all week, as well as on our social media accounts, so you’ll want to be sure to follow us on Twitter, LinkedIn, Facebook and Instagram for the latest.

It is hard to put into words what Team Building means to Plexus. It is a jumping-off point for the rest of the year, a catalyst for growth. And on Day One, it feels a lot like the first day of school, when seeing friends after the summer break. There are smiles and handshakes and greetings with our colleagues from other offices.

The new year brings new resolutions, such as a focus on eating healthier, or exercising more, or telling the people closest to us that we love them.
For many, this list of resolutions also includes a vow to change jobs, to move up in their careers, to take the next step. Maybe this can be done at a current place of employment, but maybe not. Maybe it will take a fresh start at a new company to get to where you want to be.

This can be a tough decision to make. There is comfort in familiarity. Maybe your current role isn't so bad, and if you stick around, it might get better. That is possible.

So if you're going to look for another job in 2018, it better be worth your time. It better deliver a superior experience to what you already have.

That's why career seekers do their due diligence on prospective new companies.

And if you do your due diligence on The Plexus Groupe, you will find the following:

-- We are a growing firm, with more than 100 employees across four offices in Deer Park, Illinois (corporate headquarters), Chicago (Loop), Dallas, and Oklahoma City. The firm has more than 100 employees across offices in Deer Park, Illinois (corporate headquarters), Chicago (Loop), Dallas, and Oklahoma City.

We enjoy reading about insurance at Plexus. Here are a half-dozen industry stories we are bookmarking, sharing, and perusing as the work week rolls on:
-- Wildfires are leading to soaring insurance costs in some areas of California.

-- One of college football's top programs took insurance to cover incentive payouts related to team performance in 2016. It did not take out the coverage in 2017. Read on for the rest of this interesting story.

DEER PARK, Ill. – Chicagoland-based Plexus Financial Services, LLC (PFS), a firm specializing in corporate retirement plan advisory services, has had two exemplary associates honored by a leading industry lobbying group.
PFS Executive Vice President and Practice Leader Allison Winge and Vice President of Client Relations Pamela Appell have been named Top Women Advisors for 2017 by the National Association of Plan Advisors (NAPA). Top Women Advisor honorees were selected by a panel of judges, with nearly 600 retirement advisors receiving nominations.

Winge (pictured at left) was selected as a “Captain,” a designation given to leaders of retirement plan advisory firms. Appell (right) was selected as an “All-Star,” an honor reserved for top producers. Winge and Appell each have close to two decades of experience in corporate retirement plan advisory.

“We are extremely proud of the recognition Allison and Pamela have received,” said Brian F. Griffin, Plexus Groupe President and Chief Operating Officer. “Their tireless advocacy on behalf of retirement plan sponsors and participants is to be commended, and we cannot thank them enough for the impact they have had on Plexus Financial Services and our clients. The entire Plexus family salutes Allison and Pam for their excellent work.”

An affiliate of the American Retirement Association, NAPA is a leading industry advocacy group for the retirement plan advisory industry. Plexus Financial Services is a member of NAPA.

Disclosure regarding NAPA’s Top Women Advisors

The list is formed through an advisor application process supporting a potential nomination from the National Association of Plan Advisors, an affiliate organization of the American Retirement Association, a non-profit association. The nomination acknowledges excellence and contributions within the profession. No fee is charged for application, nomination, or selection; however, only NAPA Firm Partners are allowed to participate. Among various selection criteria, annual dues are required to obtain NAPA Firm Partner Membership.

Disclosure regarding NAPA/ARA

The National Association of Plan Advisors is a non-profit professional society backed by the American Retirement Association (ARA). The materials provided are intended for instruction only and are not a substitute for professional advice.

The American Retirement Association is a non-profit professional organization with two major goals: to educate all retirement plan and benefits professionals, and to create a framework of policy that gives every working American the ability to have a comfortable retirement. The American Retirement Association is comprised of four premier retirement industry associations; the American Society of Pension Professionals & Actuaries (ASPPA), the ASPPA College of Pension Actuaries (ACOPA), the National Association of Plan Advisors (NAPA), and the National Tax-deferred Savings Association (NTSA).

For additional information please contact NAPA (napa-net.org) and the American Retirement Association (usaretirement.org) at 4245 N. Fairfax Drive, Suite 750, Arlington, Va., 22203. Both organizations can be reached by telephone at 703-516-9300.

Disclosure regarding Plexus Financial Services

Plexus Financial Services, LLC (“PFS”) does not provide specific investment, tax, and/or legal advice and the information referenced/provided is not specific to any company’s or individual’s circumstances. The materials referenced/provided are general in nature and provided for educational purposes based upon publicly available information from sources believed to be reputable and reliable; we cannot assure the accuracy or completeness of these materials and caution you to use personal diligence in review before relying or acting upon any information presented. Any general information referenced/provided is not be construed as personalized investment, tax, and/or legal advice. Always consult an advisor, attorney and/or tax professional regarding your specific situation.

This communication is strictly intended for individuals residing in the states of Alabama, Colorado, Georgia, Illinois, Indiana, Louisiana, North Carolina, Ohio, Oklahoma, Texas, Washington, and Wisconsin and does not provide any information regarding any offers or services directly provided by PFS. The information referenced/provided is not to be considered an offer to buy or sell, or a solicitation of any offer.

PFS is a wholly owned subsidiary of The Plexus Groupe LLC. Advisory services are offered through Plexus Financial Services LLC, a registered investment advisor with the SEC which transacts business in states where it is properly registered, or is excluded or exempted from registration requirements, member FINRA (www.finra.org) and the SIPC (www.sipc.com). SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

You may request receipt of PFS’s Form ADV, Privacy Policy Statement, Code of Ethical Behavior, and Conflict of interest Policy at any time by written request to info@plexusfs.com. For additional details or questions regarding this or any information provided by or related to PFS, please visit our website at www.plexusfs.com. Plexus Financial Services is located at 21805 Field Parkway, Suite 300, Deer Park, Illinois 60010. To contact us by phone, please call (847) 307-6222.

The Plexus Groupe is releasing this week's insurance reading list. Here are a half-dozen industry stories we are sharing, thumbing through, and bookmarking as the work week rolls on:
-- An NFL quarterback who could garner a nine-figure contract in 2018 made sure to take out an insurance policy on himself before the season. (Among those suggesting he have insurance: former GM CEO Jack Welch.)

In late 2015, Deputy Attorney General Sally Yates issued a memorandum to federal prosecutor — commonly known as the Yates Memo — that emphasizes the accountability of individuals involved in corporate wrongdoing.
Consequently, businesses and culpable employees are both targets during federal investigations. This can lead to a number of liabilities for your organization.

The Yates Memo specifies that businesses must identify all culpable individuals during a Department of Justice (DOJ) investigation. This will likely result in frayed relationships with employees, longer investigations and higher defense costs. Additionally, the DOJ will expect your business to cooperate during both corporate and individual cases, as the Yates Memo removed many protections for individuals.

To ensure that you are adequately protected, you need to examine your business’s directors and officers (D&O) insurance coverage before an investigation takes place.

Primary Focus of the Yates Memo

The Yates Memo consists of six “key steps” to encourage businesses to focus on individual accountability as well as to encourage federal attorneys to bring civil and criminal charges against culpable employees.

Two of these steps will have a large impact on the focus of investigations:

2. Federal attorneys will target individuals during the onset of an investigation. They will not focus solely on the business as a whole.

Employees’ Reactions

Because businesses must identify culpable individuals to receive cooperation credit during a federal investigation. The priorities of your business and your employees will likely diverge over the course of a case.

Additionally, the Yates Memo states individuals don't have to partake in wrongdoing to be a target of investigations. Board members, directors, officers and managers that do not provide sufficient oversight of their respective responsibilities can be found negligent and targeted during a case. This broad range will likely make it more difficult to determine who caused any wrongdoing.

While it is in your business’s best interests to conduct thorough internal investigations and find all culpable individuals, employees may be less willing to reveal relevant information and may even request their own legal counsel to represent their best interests. And, if your D&O coverage provides funding for this defense, there will be less funds available to provide protection for your business as a whole.

Protection for Individuals

As the Yates Memo emphasizes individual accountability, it takes away protections that individuals could turn to when resolving cases. The key steps in the memorandum specify the following:

→ There must be a plan to resolve any related cases involving culpable individuals before corporate cases are handled.

→ Resolutions between businesses and the DOJ will provide no protection for culpable individuals.

→ Civil charges against individuals will not account for the ability to pay financial penalties.

These points will serve to lengthen cases because businesses need to cooperate with individual and corporate cases. This means that your business must continue to devote time and resources to internal investigations and provide for legal counsel. As a result, your current D&O coverage is likely inadequate given the new priorities found in the Yates Memo.

D&O Coverage Considerations

To ensure that you have adequate D&O coverage to defend both your business and its employees during an investigation, you should review the following topics:

→ Type of coverage: Ensure that your D&O policy will provide adequate protection for all parties involved in a case. Coverage should include funds for your employees’ defense, any additional funds your business provides for their defense and your business’s defense if you are sued by a third party as a result of a federal investigation.

→ Investigation coverage: Consider purchasing investigation coverage as an endorsement to your D&O policy. This will help protect you from the financial burden of lengthy internal investigations.

→ Policy limits: Consider raising your policy limits to ensure that you have adequate protection. Defending more individuals and assisting federal prosecutors will lead to longer cases and higher defense costs.

→ Conduct exclusions: Examine your current D&O policy to see if it has conduct exclusions for fraud, dishonesty and other misconduct. These exclusions may also include final adjunction provisions, which prevent carriers from withholding funds until a case has been resolved.

→ Balance between indemnification and insurance: Conduct a review of your business’s balance between indemnification and D&O coverage. If you provide for the majority of a case’s defense costs, you may face severe financial hardship after it's resolved.

Let’s have a conversation

The risk prevention experts at The Plexus Groupe transform complexity into simplicity to empower growth-orientated companies like yours by reducing exposures, improving cost efficiencies, and protecting your most valued assets.

Have questions regarding directors & officers coverage? You have come to the right place. Contact Plexus Vice President of Executive Liability Willie Lindsey at 847-307-6100 or wlindsey@plexusgroupe.com. We will work with you to protect what you have earned and achieved.

The Plexus Groupe salutes TechAssure for winning Network / Alliance of the Year honors among insurance-industry groups with 100 or fewer member agencies at the 2017 Insurance Business America Awards on Wednesday night in Chicago.
Since 2006, Plexus has been a proud member of TechAssure, a select, cutting-edge group of global independent insurance brokers with expertise in the technology, life science, clean technology, cyber risk and venture/private equity markets. The association with TechAssure allows Plexus access to products developed specifically for the technology, private equity and venture capital marketplaces, as well as current market and product trends in the field of technology risk management.

We enjoy reading about insurance at Plexus. Here are five industry stories we're checking out as the work week begins:
-- According to the Washington Post, nearly a dozen states could soon run out of money to care for low-income children because the federal Children's Health Insurance Program remains unfunded.

At Plexus, we enjoy reading about insurance -- and we think you will, too. Here are five industry-related stories we are sharing, bookmarking, and scrolling through as the work week rolls on:
-- The U.S. House has voted to reauthorize the National Flood Insurance Program.

In the latest Plexus Property & Casualty Newsletter, we explore the question of who pays when a boat tossed ashore during a storm lands on your property.

News item: Row, row, row your boat, gently down ... the lawn?

Scores of boats swept ashore during Hurricane Irma (not pictured here) remain stuck where they are. Some are now sitting on the property of homeowners who don't own the boats, the Miami Herald reports. The question of whom will pay to remove some of these once-seafaring vessels remains unsettled, leaving the boats to decay where they sit. (Some boats are attracting rats, as the Herald notes.) From a business perspective, your property insurance will generally cover debris removal, though sublimits apply. Have coverage questions? We can help. Contact Plexus Senior Claims Analyst Joni Gould at 847-307-6140 or jgould@plexusgroupe.com.

Electronic driving records soon required for many fleet drivers

By mid-December, many trucking firms and other commercial drivers must begin complying with federal regulations requiring electronic logging devices (ELDs) to be used instead of the paper log books that were long a fixture in the trucking industry. The Federal Motor Carrier Safety Administration offers numerous compliance resources on the rule, which fully takes effect in 2019. For more information on fleet risk management, contact Plexus P&C Client Executive Jim Jenkins at 847-307-6112 or jjenkins@plexusgroupe.com.

In M&A deals, don't forget the cyber coverage

In case you were on the fence regarding cyber insurance, here’s one more reason to consider it: if you ever look to sell your company, buyers might look kindly upon the coverage, for the insurance “gives some comfort that in the event of a breach, there is some resource available to respond to a significant breach,” Dan Cotter, an attorney for Chicago law firm Butler Rubin Saltarelli & Boyd LLP, told TheStreet.com for a recent story on cyber coverage. Plexus offers a wide range of cyber and M&A expertise; for more information, contact P&C Practice leader Mike Mann at 847-307-6111 or mmann@plexusgroupe.com.

The property & casualty insurance world is ever-changing, and businesses face a vast array of risks. Here's a look at three risk management topics firms should be pondering as 2018 approaches.

Lessons from a cruel summer

After a turbulent summer, it is a good time to review contingency plans for operations slowed or halted due to a natural disaster. If your major suppliers can't ship needed components due to a catastrophe, a contingent business interruption endorsement to your business property policy could make all the difference. To learn more about ensuring you have the proper coverage and limits in place, contact Property & Casualty Vice President and Client Executive Jesse Altman at 847-307-6100 or jaltman@plexusgroupe.com.

Cyber boom

According to one estimate, the cyber insurance market could grow by 600-800 percent over the next 10 years. That's impressive long-term growth, but when it comes to cyber coverage, being an early adopter is the smart move. With cyberattacks an unceasing risk for businesses, it pays to get covered, especially when cyber insurance protects in so many ways. For more information on Plexus’s cyber risk management capabilities, contact Property & Casualty Vice President and Client Executive Willie Lindsey at wlindsey@plexusgroupe.com or 847-307-6100.

'Nailed' it

Earlier this year near New Orleans, a truck spilled roofing nails on Interstate 10. You can guess what happened next: nails reportedly became embedded in the tires of numerous vehicles, and then, the insurance claims insurance claims were filed. For commercial vehicles, auto liability insurance covers property damage caused by vehicles covered under the policy. For more on commercial auto insurance, including liability limits, contact Property & Casualty Vice President and Client Executive Debbi Incopero at 847-307-6100 or dincopero@plexusgroupe.com.

The Plexus Groupe (Plexus), a growing national insurance brokerage and risk management consulting firm, has been honored as one of the Best Places to Work in Insurance for 2017. This is the eighth consecutive time Plexus has received the Best Places to Work designation, which is awarded by Business Insurance magazine and Best Companies Group.
Best Places to Work in Insurance honorees are selected on the quality of their employee benefits and the engagement and satisfaction of their employees. The results of a completely confidential and voluntary employee survey comprise half of the judging criteria.

“Our firm is honored to have received the Best Places to Work in Insurance distinction for an eighth consecutive year,” said Brian F. Griffin, Plexus President and Chief Operating Officer. “This award is testament to our Plexus associates, who have built and maintained a second-to-none workplace culture. On behalf of our executive team, partners, and senior staff, I want to convey how proud and thankful we are to work alongside of this impressive group of associates on a daily basis.”

Plexus offers associates a full suite of employee benefits, including medical, dental, disability and life insurance, and a 401(k) retirement plan. The firm strongly believes in the importance of employee wellness. Plexus provides complimentary fresh fruit and vegetables and non-sugared waters and iced teas for associates, and it has converted an office at its headquarters into a walking workstation. An employee-run wellness committee organizes a variety of get-fit events, and associates also plan and oversee a variety of philanthropic and social events throughout the year, including a recent charitable drive for Hurricane Harvey relief.

DEER PARK, Ill., August 15, 2017 — The Plexus Groupe (Plexus), an insurance brokerage and risk management consultancy with a national presence and an international reach, has again been certified as a Best Practices Agency by the Independent Insurance Agents & Brokers of America, Inc. (IIABA) and Reagan Consulting, Inc.
The Best Practices designation honors insurance agencies for performance against numerous business metrics. These include financial stability, operations productivity, profitability, revenue growth, and sales velocity. Best Practices honorees are selected every three years and recertified annually for two years after resubmitting their operational results for measurement.

“We're pleased to retain our designation of a Best Practices Agency,” said Brian F.Griffin, Plexus President and Chief Operating Officer. “The Best Practices recognition is especially meaningful, as it measures profitability, stability, and growth, among other key performance indicators. This honor is a credit to each of Plexus’s more than 100 associates firmwide.”

Plexus is a growing insurance brokerage and risk management consultancy with offices in Deer Park, Ill. (headquarters), Chicago, Dallas and Oklahoma City. The firm offers expert solutions and a superior client experience in employee benefits, property and casualty, retirement plans, personal insurance, HR administration and consulting, technology, and mergers and acquisitions. Also, the Plexus Global Network gives clients access to insurance placement in 130 countries around the world. In each of the last seven years, Plexus has earned Best Places to Work in Insurance honors from Business Insurance magazine.

Contact Us

For more information on Plexus, please contact the firm at 847-307-6100, or visit plexusgroupe.com.

The Plexus Groupe, a Best Places to Work in Insurance honoree in each of the last seven years, is hiring for positions in suburban Chicago, Dallas and Oklahoma City.
Plexus offers differentiated expertise and a special client experience across numerous disciplines, including employee benefits, property and casualty, corporate retirement planning, technology services and personal lines insurance.

At Plexus, associates enjoy a competitive benefits package and a wide range of extra amenities, including complementary healthy snacks in the morning and afternoon, a walking workstation where employees can check emails while burning calories, and a refrigerator stocked with sparkling water and other no/low-calorie options. (If you love LaCroix, you will find some kindred spirits at Plexus.)

Plexus associates are the keepers of our special workplace culture, one built on trust, collaboration and open doors. Here, you will have a chance to be heard, your ideas to be implemented. Management is engaged, curious -- and never satisfied. We move quickly here.

The Plexus Groupe is growing, and steadily. Since the beginning of 2016, we've added offices in downtown Chicago and in Oklahoma City. We now have more than 100 associates.

However, we are not newcomers to the scene. We have served clients for more than 25 years. And along the way, we have had numerous associates leave Plexus only to eventually return, to come back to a place they missed.

List of Current Openings

Below are links to our current career openings with The Plexus Groupe. If interested in applying for any of these opportunities, please fill out a short assessment survey that is required for all candidates. Be sure to read a little more about our corporate culture, too.

On Monday, the Department of Labor announced implementation of the fiduciary rule will begin Friday, June 9, 2017, though enforcement of the rule will not begin until January 1, 2018.
The “fiduciary rule” refers to DOL regulation changes aiming to protect investors, including participants in employer-sponsored 401(k) plans, by reducing conflicts of interest between financial advisors and fund providers. Most of all, the DOL regulations widen the scope of what is considered fiduciary advice, thereby creating more fiduciaries.

However, the long-term future of the rule is still in question. The Department of Labor is using the transition period from now until year’s end to determine whether the fiduciary rule would negatively impact retirement plans. Changes to the rule could still take place before the end of the year.

Here's a rundown of key deadlines and dates for the fiduciary rule in the coming months:

'Best interest standard' takes effect June 9, 2017
The so-called "best interest standard," requiring financial advisors to act in the best interest of clients, will be applicable at 11:59 p.m. local time on Friday, June 9, 2017.

Contract provisions must be in place by January 1, 2018
Language regarding best interest standards and any other stipulations under the fiduciary rule must be executed and effective by January 1, 2018.

Enforcement delay until January 1, 2018
The DOL will delay penalties under the fiduciary rule during the “transition period" set to run through the end of 2017. DOL's general enforcement approach to the June 9 implementation will be marked by an emphasis on compliance assistance rather than citing violations and imposing penalties.

Between June 9, 2017 and January 1, 2018, the DOL will not pursue claims against fiduciaries who are working diligently and in good faith to comply with the fiduciary duty rule and exemptions. During the temporary enforcement period, the Internal Revenue Service (IRS) will not apply excise taxes and related reporting obligations with respect to the fiduciary rule.
DOL still reviewing changes to fiduciary rule
Despite going forward with the effective date for the fiduciary rule, the DOL is using the transition period to determine whether the rule would negatively impact retirement plans. Changes to the rule could still take place before the end of the year.

More is expected from the DOL on this subject in the near future. Please stay tuned for further announcements regarding the fiduciary rule. Have questions? Don't hesitate to contact a Plexus client service team member in Deer Park, Ill. (847-307-6100), Chicago (312-606-4800), Dallas (972-770-5010) or Oklahoma City (405-840-3033).

At Plexus, we love reading about insurance. Here are a half-dozen industry stories we're bookmarking, sharing and thumbing through as the work week rolls along:
⇒ About 500,000 hail-related claims were made in Texas last year, resulting in approximately 4,000 lawsuits.